Broadwater Academy Foundation: Nonprofit Profile, Financials & Form 990 (EIN 45-5245398)

Revenue by fiscal year
FY2020	$35K
FY2021	$75K
FY2022	$39K
FY2023	$95K
FY2024	$71K
FY2025	$209K

Expenses by fiscal year
FY2020	$74K
FY2021	$87K
FY2022	$75K
FY2023	$80K
FY2024	$82K
FY2025	$82K

Net assets by fiscal year
FY2020	$1.5M
FY2021	$1.5M
FY2022	$1.4M
FY2023	$1.5M
FY2024	$1.5M
FY2025	$1.7M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2012.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

69 cents of each dollar spent went to programs.

69%

31%

Program services 69% · $57K Management & general 31% · $25K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Chris Willis

Chair

$0Pt VII · Sec A

Daniel Hooper

Treasurer

$0Pt VII · Sec A

Jon Wehner

Vice Chair

$0Pt VII · Sec A

Will Russell

Secretary

$0Pt VII · Sec A

Ace Seybolt

Director

$0Pt VII · Sec A

Blake Johnson

Director

$0Pt VII · Sec A

Brent Anderson

Director

$0Pt VII · Sec A

Clint Crouse

Director

$0Pt VII · Sec A

See Broadwater Academy Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Fundraises and distributes money to benefit students and improve the academy's education and facilities.

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Provided by the organization

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1 program · $57K · in their own filed words · FY2024

01

Provide scholarship and operating grants to broadwater academy

$57Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2024

Chesapeake Bay Wine Classic FoundationFY2024$15K

Total grants receivedfrom 1 funder$15K

Grants paid · 6 grants · $335K · 2019–2024

Broadwater AcademyVA · FY2024$56,941

Broadwater AcademyVA · FY2023$54,355

Broadwater AcademyVA · FY2022$54,471

Broadwater AcademyVA · FY2021$54,038

Broadwater AcademyVA · FY2020$57,660

Broadwater AcademyVA · FY2019$57,232

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$209K

Ln 12

Gifts and grantsLn 1h$130K

Investment incomeLn 3$65K

Other incomeLn 4–11$14K

Money outPt IX

$82K

Ln 25

Programscol B$57K

Managementcol C$25K

Owns and owesPt X

$1.7M

net assets · Ln 32

Cash and savingsLn 1–2$522K

Total assetsLn 16$1.8M

LiabilitiesLn 26$89K

PeoplePt VI, VII

14

listed · VII A

PaidVII A0

Voting boardVI 1a14

IndependentVI 1b14

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$130K

Investment incomeLn 3$65K

Other incomeLn 4–11$14K

Total revenueLn 12$209K

Assets in detailPt X, end of year

SavingsLn 2$522K

Cash and savings togetherLn 1–2$522K

InvestmentsLn 11–13$997K

Land, buildings, equipmentLn 10c$166K

Other assetsLn 15$0

Total assetsLn 16$1.8M

LiabilitiesLn 26$89K

Net assetsLn 32$1.7M

OperationsPt I, VI

EmployeesI 50

VolunteersI 613

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$108K	$522K
InvestmentsLn 11–13	$441K	$997K
Land, buildings, equipmentLn 10c	$185K	$166K
Total assetsLn 16	$1.6M	$1.8M
LiabilitiesLn 26	$98K	$89K
Net assetsLn 32	$1.5M	$1.7M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$57K	$57K
Investment management feesLn 11f	$2K		$2K
Other fees for servicesLn 11g	$0	$0	$0	$0
Office expensesLn 13	$1K		$1K
InterestLn 20	$3K		$3K
Depreciation, depletion and amortizationLn 22	$19K		$19K
All other expensesLn 24e	$0	$0	$0	$0
Total functional expensesLn 25	$82K	$57K	$25K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$209K	$82K	$127K	$1.7M	990 PDF
FY2024	$71K	$82K	−$11K	$1.5M	990 PDF
FY2023	$95K	$80K	$15K	$1.5M	990 PDF
FY2022	$39K	$75K	−$37K	$1.4M	990 PDF
FY2021	$75K	$87K	−$11K	$1.5M	990 PDF
FY2020	$35K	$74K	−$39K	$1.5M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2025 990 (6 parts)

Part I · Summary $209,312 revenue, 12 lines filed

I-8 Contributions and grants$130,000

I-9 Program service revenue$0

I-10 Investment incomePrior year $57,931$65,044

I-11 Other revenuePrior year $13,080$14,268

I-12 Total revenuePrior year $71,011$209,312

I-13 Grants and similar amounts paidPrior year $54,355$56,941

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $27,810$25,395

I-18 Total expensesPrior year $82,165$82,336

I-19 Revenue less expensesPrior year −$11,154$126,976

Part VI · Governance 14 of 14 board members independent, 3 to look at

VI-1a Voting members of the governing body14

VI-1b Independent voting members14

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

Part VIII · Statement of revenue $209,312 across 5 lines filed

VIII-1f All other contributions, gifts and grants$130,000

VIII-1h Total contributions, gifts and grants$130,000

VIII-3 Investment incomeExcluded from tax $65,044$65,044

VIII-6 Net rental income or lossExcluded from tax $14,268$14,268

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $79,312$209,312

Part IX · Statement of functional expenses $82,336 across 7 lines filed

IX-1 Grants to domestic organizationsPrograms $56,941$56,941

IX-11f Investment management feesManagement $2,368$2,368

IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0

IX-13 Office expensesManagement $1,138$1,138

IX-20 InterestManagement $3,327$3,327

IX-22 Depreciation, depletion and amortizationManagement $18,562$18,562

IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0

IX-25 Total functional expensesPrograms $56,941 · Management $25,395 · Fundraising $0$82,336

Part X · Balance sheet $1,754,311 assets, 12 lines filed

X-2 Savings and temporary cash investmentsStart of year $107,967$522,439

X-4 Accounts receivableStart of year $859,771$69,192

X-10c Land, buildings and equipment, netStart of year $184,520$165,957

X-12 Other securitiesStart of year $441,163$996,723

X-15 Other assetsStart of year $0$0

X-16 Total assetsStart of year $1,593,421$1,754,311

X-25 Other liabilitiesStart of year $0$0

X-26 Total liabilitiesStart of year $97,999$88,670

X-27 Net assets without donor restrictionsStart of year $1,080,470$1,091,364

X-28 Net assets with donor restrictionsStart of year $414,952$574,277

X-32 Total net assets or fund balancesStart of year $1,495,422$1,665,641

X-33 Total liabilities and net assetsStart of year $1,593,421$1,754,311

Part XI · Reconciliation of net assets $1,665,641 net assets at year end

XI-1 Total revenue$209,312

XI-2 Total expenses$82,336

XI-3 Revenue less expenses$126,976

XI-4 Net assets at start of year$1,495,422

XI-5 Net unrealized gains (losses) on investments$43,243

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,665,641

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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Broadwater Academy Foundation

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Broadwater Academy Foundation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV